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Rising home prices push higher metals, oil

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Posted: Jan 29, 2013 4:22 PM

Updated: Jan 29, 2013 4:23 PM

Metals and energy prices are higher, pushed up by a report about rising U.S. home prices.

Metals and energy can rise when investors feel good about the economy, since they're both needed to power manufacturing and other economic activity. Palladium, platinum and copper, which can trade as industrial metals, were all up about 1 percent. Benchmark oil closed above $97 a barrel for the first time in four months.

The housing report on Tuesday from Standard & Poor's/Case-Shiller said prices for its 20-city index rose 5.5 percent in November compared with the same month a year ago, pushed higher by rising sales and a tighter supply of available homes.

Gold for April delivery rose $7.70 to $1,662.70 per ounce.

Energy and agricultural contracts were mixed.

Topics: Commodities Review

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